Best Buy Mobile Survey Finds One in Two Consumers Don’t Know When Their Mobile Phone Contract Expires

Published on Tuesday, 31 August 2010 11:25 Written by TradersHuddle Staff

MINNEAPOLIS-( Business Wire )-

According to a recent study commissioned by Best Buy Mobile, the mobile specialty retail unit of Best Buy Co. Inc (NYSE: BBY), more than half of American mobile phone owners do not know the month and year when their current mobile phone contract expires. In addition, only four in 10 say they received a reminder notice that their contract was about to expire, leaving many consumers in the dark about upgrade eligibility and the plan options available.

To help consumers better understand their contract situation, Best Buy Mobile recently launched a consumer education campaign - the Upgrade Checker campaign, at http://www.BestBuy.com/Mobile - that provides resources to help customers make informed shopping decisions.

The survey, conducted for Best Buy Mobile by GfK Roper, sheds light on consumers’ knowledge and shopping habits around mobile plans, devices, technology and accessories.

“When it comes to mobile solutions available today, many consumers are not armed with the right information to truly get the most out of their mobile phone,” said Shawn Score, president of Best Buy Mobile. “We know that there are customers out there using mobile phones that are four and five years old when they could be using a smart phone. At Best Buy Mobile, we look out for our customers and help them navigate the wide array of choices to help them make an informed decision that fits their lifestyle.”

Choosing the Right Mobile Phone: What Matters Most

While nearly one in four shoppers (23 percent) made their mobile phone decision based on the mobile phone device itself, the majority of respondents (67 percent) selected carriers as their main purchasing influence. One in 10 selected a mobile phone based on the operating platform, such as Google’s Android or Apple’s iPhone platforms.

Survey respondents also noted that they expect multimedia capabilities as a primary function on a mobile device, though content interests differ:

• 45 percent look for multimedia capabilities including music, video and camera
• 32 percent look for GPS navigation
• 29 percent want to replace landline phone
• 26 percent want to be able to access social networking sites
• 26 percent want to be Wi-Fi enabled
• 15 percent want to make eCommerce purchases from their mobile devices
• 15 percent want to be able to download a movie
• 14 percent want to be able to play games from their smart phone

At Best Buy Mobile, consumers will find one of the largest selections of carriers, handsets – including the most smart phones under one roof - and accessories available anywhere. Best Buy’s mobile staff is non-commissioned and helps consumers choose the mobile product that is right for their individual needs.

Best Buy Mobile Resources

To ensure consumers are maximizing their current mobile device and plan, Best Buy Mobile associates review device usage – with the customer’s consent – and recommend the optimum plans for each customer. In addition, Best Buy Mobile offers tools and resources that allow customers to quickly check their phone upgrade eligibility. Best Buy Mobile’s free online Upgrade Checker application, http://www.bestbuymobile.com/upgradechecker, allows consumers to verify the status of their contract and opt-in to receive a reminder when their contract is due for renewal. If consumers do qualify for an upgrade, Best Buy Mobile can provide free devices available on every major network.

When customers purchase a phone from Best Buy Mobile they can opt into the Happy24 program which provides coupons, tips and tricks for their new phones, industry news and updates on their plan for the length of their two-year contract.

Visit http://www.BestBuy.com/Mobile for more information.

About Best Buy Mobile

Best Buy Mobile features one of the largest selections of carriers, handsets and accessories available anywhere, as well as a highly-trained staff to help customers make the most of their mobile phones. Best Buy Mobile locations feature more than 90 different handsets from nine carriers, and over 130 accessories. Employees undergo at least 80 hours of intensive training, as well as continuing education on mobile phone technology and trends. Look for your mobile phone solution at Best Buy Mobile locations in every Best Buy store as well as in standalone stores nationwide. For more information about Best Buy Mobile, visit http://www.BestBuy.com/Mobile.

About Best Buy Co., Inc.

With operations in the United States, Canada, Europe, China, Mexico and Turkey, Best Buy is a multinational retailer of technology and entertainment products and services with a commitment to growth and innovation. The Best Buy family of brands and partnerships collectively generates more than $49 billion in annual revenue and includes brands such as Best Buy; Best Buy Mobile; Audiovisions; The Carphone Warehouse; Future Shop; Geek Squad, Jiangsu Five Star; Magnolia Audio Video; Napster; Pacific Sales; and The Phone House. Approximately 180,000 employees apply their talents to help bring the benefits of these brands to life for customers through retail locations, multiple call centers and Web sites, in-home solutions, product delivery and activities in our communities. Community partnership is central to the way we do business at Best Buy. In fiscal 2010, we donated a combined $25.2 million to improve the vitality of the communities where our employees and customers live and work. For more information about Best Buy, visit http://www.bby.com.

About the Survey

The results contained in this report are based on telephone interviews conducted by GfK Roper, a division of GfK Custom Research North America, from May 21-23 2010. A total of 1,004 interviews were completed with a representative national sample of U.S. adults. The margin of error for this study is + 3 percentage points for the full sample.

Best BuyJeff Haydock, 612-291-6164Jeff.Haydock@bestbuy.comorMS&LNichole Mrasek, This e-mail address is being protected from spambots. You need JavaScript enabled to view it.